Tag Archives: tax relief
Could voodoo economics save pension tax relief (and Keir Starmer’s box)?
Consumer confidence is in the grip of the prospect of a painful budget with the middle classes scared of losing pension privileges to pay for the £22bn black hole created by post election public sector pay rises Tory fiscal incompetence. I … Continue reading
Why pension tax-relief has remained a rich man’s perk
Back in 2015, when reform of the pension tax relief system was under a consultation “Strengthening the incentive to save: consultation on pensions tax relief – GOV.UK (www.gov.uk)” the Government requested Ipsos Mori to research how much the general population … Continue reading
What we don’t consider matters
Listening to Victoria Derbyshire talking about domestic abuse on the radio this morning , I was struck by one insight. When asked why domestic abuse had been such a low priority at the start of lockdown she observed that as … Continue reading
Posted in accountants, actuaries, advice gap, pensions
Tagged advice gap, David Penney, pensions, tax relief
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A great report on tax injustice from the ABI at prayer.
It’s a good and timely report and its analysis of inequality is excellent. But it is only addressing a quarter of the Government’s incentives bill and the solution it models is a lot more painful to the mass-affluent than the report implies Continue reading
Posted in accountants, actuaries, age wage, pensions
Tagged ABI, pensions, PPI, Tax, tax relief
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Treasury flies a pension kite on a stormy weekend
For as long as I’ve been advising on pensions, the weeks running up to the budget have been filled with rumours of draconian reductions in the subsidies available to the rich to featherbed their retirement. This FT story has the … Continue reading
Posted in age wage, pensions, Politics, Treasury, welfare
Tagged pensions, Sajid Javid, tax relief, Treasury
3 Comments
Tom McPhail – “the Thunderer’s thunderer” #pensions #tax #relief
Sir, The government should abandon its attempts to find a quick fix to the pension allowance taper problem affecting high earners including doctors and judges (“Pension tax windfall for top earners”, Jan 16, and letter, Jan 17). The pension tax … Continue reading
A pension tax- relief debate (beats Love Island any Sunday)
While the nation was working out Dancing on Ice and the new #loveisland line-up, I was engaged in an intellectual arm-wrestle with amongst others, Mike Otsuka, John Ralfe, Sam Pickford, Steve Bee and (in the stands) Ros Altmann. The topic, … Continue reading
Posted in advice gap, age wage, pensions
Tagged John Ralfe, Love Island, Mike Otsuka, net-pay, pensions, RAS, Ros Altmann, steve bee, tax relief, Treasury
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Pension tax-relief – a fact based argument for change.
The change I am suggesting would turn pension taxation on its head, it would mean pension contributions would be taxed at more than 60% for high earners but that the lowest earners would be exempt from pension taxation. Pension … Continue reading
Posted in pensions
Tagged change, EET, Income tax, National Insurance, pensions, tax relief, TEE, trustees
10 Comments
What “fair pensions” might mean in the next five years.
Jim Coney writing in the Times , explains his thinking on pensions tax-relief. He is right to point to the likelihood of major reform of the current system within the next 5 years. If the Conservatives are going to … Continue reading
Pension tax transparency a long way off
The malaise with pension taxation goes much deeper than the immediate symptoms, the complexity of the Annual and Lifetime allowances, the obscurity of the money purchase annual allowance and the perversity of the running both net pay and … Continue reading
Posted in pensions, steve webb, Treasury
Tagged Freedoms, HMRC, HMT, Pension Freedoms, pensions, Tax, tax relief
2 Comments